Clearwater Paper (NYSE:CLW) Stock Price Target Lowered at Royal Bank Of Canada

Clearwater Paper (NYSE:CLW) had its price target cut by research analysts at Royal Bank Of Canada from $23.00 to $22.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada‘s price objective points to a potential upside of 50.63% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. TD Securities reiterated a “hold” rating and set a $20.00 target price on shares of Clearwater Paper in a research note on Wednesday, July 29th. Zacks Research raised shares of Clearwater Paper to a “hold” rating in a report on Monday, July 6th. Truist Financial increased their price target on shares of Clearwater Paper from $12.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Weiss Ratings restated a “sell (d)” rating on shares of Clearwater Paper in a report on Wednesday, August 5th. Finally, Bank of America raised their price objective on shares of Clearwater Paper from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, September 11th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.67.

Clearwater Paper Stock Performance

Shares of CLW stock traded down $4.62 during trading on Tuesday, hitting $14.61. The company’s stock had a trading volume of 187,613 shares, compared to its average volume of 194,213. The company has a market cap of $235.58 million, a PE ratio of -4.94 and a beta of 0.33. The company has a current ratio of 2.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $20.22 and a 200-day moving average of $17.26. Clearwater Paper has a 52 week low of $11.73 and a 52 week high of $23.59.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings results on Monday, October 26th. The basic materials company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%. The business had revenue of $384.90 million for the quarter, compared to the consensus estimate of $388.39 million. As a group, research analysts anticipate that Clearwater Paper will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Clearwater Paper in the second quarter worth $19,788,000. Readystate Asset Management LP raised its stake in shares of Clearwater Paper by 2.5% in the first quarter. Readystate Asset Management LP now owns 781,384 shares of the basic materials company’s stock valued at $11,236,000 after buying an additional 19,246 shares during the period. Renaissance Technologies LLC raised its stake in shares of Clearwater Paper by 107.4% in the first quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock valued at $3,410,000 after buying an additional 122,815 shares during the period. Man Group plc purchased a new position in shares of Clearwater Paper during the 2nd quarter valued at $2,986,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Clearwater Paper by 26.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 144,392 shares of the basic materials company’s stock valued at $2,264,000 after buying an additional 30,379 shares during the last quarter. 89.98% of the stock is owned by institutional investors.

About Clearwater Paper

Clearwater Paper Corporation is a manufacturer of bleached paperboard and pulp products. Its paperboard is used in packaging applications such as folding cartons, food and beverage packaging, and other consumer and industrial products. The company also produces pulp used in the manufacture of paper and tissue products.

Clearwater Paper primarily serves customers in North America, supplying packaging manufacturers, consumer-products companies, and other converters. Its operations have included paper mills in the United States, including facilities in Idaho and Arkansas, with products marketed to a range of food, beverage, household, and commercial markets.

The company was formed in 2008 through the separation of Potlatch Corporation’s pulp and paperboard businesses.